In the second episode of Money on the Move, Faisal and Malini decode the often quoted figure of $600 billion annual remittances in 2017. They attempt to explain where this number comes from and how it is calculated. Our hosts also talk about the unbanked world, how money transfer takes place through mobile money, and the costs and challenges associated with it. They also cover the informal money transfer industry or ‘hawala’ system and discuss how to interpret the global cost of remittances.
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